Personify expanded bank data collection to more than 90% of applicants without a meaningful hit to conversion.

Plaid says LendScore improves predictive performance 25% over traditional credit data alone.

PYMNTS Intelligence found 57% of lenders cite inaccurate or incomplete SMB records as their top underwriting problem.

A credit file doesn’t capture every signal lenders can use to judge whether a borrower will repay.

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Roughly 25 million U.S. adults lack enough recent credit activity to generate a usable score, the Consumer Financial Protection Bureau (CFPB) noted last year, as PYMNTS reported. PYMNTS Intelligence separately found that 35% of subprime consumers have neither a credit nor store card, compared with 12% of prime consumers and 4% of super-prime consumers.

Bank transactions, cash flow and more detailed credit histories are yielding additional information for lenders to supplement conventional measures. Recent underwriting results disclosed by providers also provide some indication of how often the extra information changes the decision, and translates into a widening pool of available credit.

Personify Financial, per Plaid, says verified bank-transaction data increased approvals by up to 8% among underserved consumer segments while maintaining credit costs. 4% more completed purchases at comparable risk by approving eligible applicants its previous system had declined. Personify added current bank transactions. Affirm’s transformer model extracts more detail from the order and timing of events within consumers’ credit histories.

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